AFRICA Barrick Gold (ABG) created up to 66,000 jobs directly
and indirectly in Tanzania in 2012 as part of the company’s contribution to the
country’s economic development according to the latest report by international
Audit firm Ernst & Young released in November.The report indicates that the company paid more than US$570 million of labor income, and over US$980 million of value added
(GDP).
“ABG’s total contribution to Tanzanian GDP in 2012
was over US$980 million. This level of total GDP contribution is equivalent to
more than 3% of total Tanzanian GDP in 2012,” the report indicates.
The report notes that ABG’s total tax contribution
in 2012 was an estimated US$223 million.
“ABG paid nearly US$93 million in taxes and
royalties in Tanzania in 2012.Approximately 44% of ABG’s total Tanzanian tax
contribution was related to corporate income taxes and royalties, while the
remaining 56% was related to unrecovered VAT,customs & excise taxes, and
payroll taxes,” it indicates.
The report noted that in the period under review, ABG’s social investments in Tanzania totaled
more than US$14 million, supporting a variety of health, infrastructure, and
education initiatives, primarily in the communities surrounding ABG’s mines.
“ABG’s 2012 social investment spending was higher
than that of any other gold miner operating in Tanzania,” it added.
In 2012, mining comprised 3.5% of Tanzanian GDP and
employed over 15,000 workers,supported by a gold mining sector that ranked
fourth in Africa in terms of production volume.
Gold is the largest mineral commodity in Tanzania,
with gold exports comprising 94% of the value of total mineral exports in 2012.
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